Employment Benefits

Employment Benefits

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Hi 
 
I have few question 
 
If a firm buys a trade journal and only manager reads it and keep it in his office. What will be the tax implications
 

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Euan's picture
By Euan MacLennan
03rd Oct 2011 12:19

Eh?

If it is a trade journal for the trade in which the company is engaged, the subscription will be a tax-deductible trade expense and not a BIK for the individual manager.  No VAT should be charged on the subscription, so that does not come into it.

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